Maravai Lifesciences (MRVI) announced Tuesday that it is postponing its Q4 earnings release and conference call from Feb. 25 to March 18.
The company said it will file a late-notification form with the US Securities and Exchange Commission and delay its annual report for the year ending Dec. 31, 2024.
Maravai added that it needs extra time to evaluate a potential non-cash impairment charge on goodwill from its acquisition of Alphazyme.
The company is assessing internal controls to fix a material weakness in its revenue recognition process and reviewing a revenue recognition error that recorded about $3.9 million in the wrong quarter, according to the company.
The error is not expected to influence the company's annual guidance, Maravai Lifesciences added.
Shares of the company were down nearly 13% in recent trading.
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